On Thursday, Pernix Therapeutics Holdings Inc (NASDAQ:PTX)’s shares inclined 16.1% to $5.48.
Pernix Therapeutics Holdings, Inc. (PTX) a specialty pharmaceutical company, declared financial results for the second quarter ended June 30, 2015.
Second Quarter Financial Highlights:
- Net revenues on a normalized basis, raised 151% year-over-year, and 29% sequentially as compared to Q1 2015 levels
- Adjusted EBITDA raised to $7.9 million, contrast to a loss of $4.0 million last year
- Priced $130 million of 4.25% Convertible Senior Notes due 2021
- Accomplished exchange offer for $65 million, 8% convertible notes, removing this obligation from Company’s capital structure
- Improved blended cost of capital to about 9%
Financial Results -Second Quarter 2015
Gross profit margin as a percentage of net revenues was 71% as compared to 46% in the second quarter of 2014, not taking into account the impact of attained inventory step up. The enhance was primarily due to the Treximet and Zohydro ER launches. Cost of product sales will enhance with Silenor, Treximet, and Zohydro ER sales growth, in addition to associated higher royalty expenses.
Selling, general and administrative (SG&A) expenses in the second quarter of 2015 raised to $24.9 million, contrast to $13.2 million for the same period in 2014, driven primarily by higher Silenor, Treximet, and Zohydro marketing costs, and enhances in personnel due to the addition of nearly 100 sales representatives through the acquisition of Zohydro ER, legal settlement, and training. These enhances were partially offset by savings related to the sale of our manufacturing facility in April 2014. Bad debt expense, consulting and insurance costs reduced in the quarter.
Pernix Therapeutics Holdings, Inc., a specialty pharmaceutical company, develops, manufactures, markets, and sells branded and generic pharmaceutical products. The company’s product comprise CEDAX, an oral cephalosporin used for the treatment of mild to moderate acute bacterial exacerbations of chronic bronchitis, middle ear infection due to haemophilus influenza, or streptococcus pyogene; Zutripro, Rezira, and Vituz for the relief of cough and nasal congestion; and OMECLAMOX-PAK a gastroenterology product.
AES Corp (NYSE:AES)’s shares gained 0.08% to $12.60.
Miami Valley Lighting (MVLt), a partner of The AES Corporation (AES) and DPL Inc., has redesigned its website for government and commercial customers to provide more features for an improved online experience.
Since 1985, Miami Valley Lighting has been providing innovative street and outdoor lighting solutions to meet the higher efficiency and environmentally conscious needs of area governments and commercial customers. Presently, Miami Valley Lighting is responsible for more than 60,000 lights in West Central Ohio.
The new website, developed by Dayton-based The Ohlmann Group, is mobile friendly through a wide range of devices.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.
At the end of Thursday’s trade, BlackBerry Ltd (NASDAQ:BBRY))‘s shares surged 0.66% to $7.66.
BlackBerry Limited (BBRY), a global leader in secure mobile communications, unveiled the BlackBerry® Passport Silver Edition, a premium device built for business professionals who want a smartphone with the mobile tools they need to get things done - without sacrificing style or portability.
The BlackBerry Passport Silver Edition is in a class of its own, featuring a stunning silver finish with refined, curved corners, large square touch screen display and reinforced stainless steel frame for extra strength and durability. An essential business tool, the device delivers the same productivity enjoyed by other BlackBerry Passport products, in addition to an updated QWERTY touch-enabled keyboard, battery power that lasts more than a full day of mixed use, and BlackBerry® 10 OS 10.3.2.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless solutions, which comprise the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data.
Baidu Inc (ADR) (NASDAQ:BIDU), ended its Thursday’s trading session with 1.00% gain, and closed at $174.46.
Baidu, Inc. (BIDU) the leading Chinese language Internet search provider, declared that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$1 billion of its shares over the next 12 months.
The Company’s projected repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund repurchases from its existing cash balance.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
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